-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
China's Singles' Day Exposes Persistent Consumer Caution
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
Energy Costs Push OECD Inflation Up to 4.5%
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
NEET’s Merit Promise Erodes as Cost and Time Barriers Rise for Medical Aspirants
-
Lakers Defeat Bucks 123-112 Amid Injury Concerns for Dončić and Reaves
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
Audi-SAIC CEO Fred Schulze Confirms AUDI Brand Will Launch Three New Models in China
-
TuckShop Announces Cast for 'Jack and the Beanstalk' Drag Panto
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
-
Nvidia faces scrutiny over alleged Chinese intelligence link to Jensen Huang
-
Radical Numerics develops offline AI tool to detect engineered pathogens
-
Samsung One UI 9.5 Reportedly Adds Call Recording for WhatsApp and Telegram
-
Chennai orders inquiry after dogs die at shelter; two veterinarians face action
-
Kiara Advani Reveals Sidharth Malhotra’s Reaction to Toxic Backlash
-
Startup turns Chennai’s history and culture into an interactive world
-
Four firms compete to design Chennai’s model mobility corridors
-
Chennai venue launches month-long festival devoted to full-length theatre
-
New Bay of Bengal low may form November 13 as Tamil Nadu outlook remains unclear
-
एलेक्स बोडी और SCANDIC PAY: Mastercard और VISA कार्ड — भुगतान की नई पीढ़ी
-
ALEX BODI och SCANDIC PAY: Mastercard- och VISA-kort – en ny generation betalningar
-
АЛЕКС БОДИ и SCANDIC PAY: карти Mastercard и VISA — ново поколение разплащания
-
알렉스 보디와 SCANDIC PAY: Mastercard·VISA 카드를 통한 차세대 결제
-
أليكس بودي وSCANDIC PAY: بطاقات Mastercard وVISA — جيل جديد من المدفوعات
-
ALEX BODIとSCANDIC PAY:Mastercard・VISAカードによる新世代の決済
-
ALEX BODI 與 SCANDIC PAY:Mastercard 與 VISA 卡——新一代支付方式
-
ALEX BODI a SCANDIC PAY: karty Mastercard a VISA – nová generace plateb
-
ΑΛΕΞ ΜΠΟΝΤΙ και SCANDIC PAY: κάρτες Mastercard και VISA — μια νέα γενιά πληρωμών
-
ALEX BODI i SCANDIC PAY: karty Mastercard i VISA — nowa generacja płatności
-
АЛЕКС БОДІ та SCANDIC PAY: картки Mastercard і VISA — нове покоління платежів
Canada rail freight shut down threatens to disrupt economy
A labor dispute in Canada threatened to disrupt the North American economy on Thursday after the county's two rail operators shut operations, locking out nearly 10,000 workers.
"Despite months of good faith negotiations ... parties remain far apart, and both CN and CPKC have begun their lockout," the Teamsters Canada Rail Conference union said in a statement, referring to Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC).
The union representing close to 10,000 workers had given a midnight (0500 GMT) deadline to reach a deal.
The disputes have centered around workers' concerns over long hours and fatigue leading to dangerous working conditions.
It is the first time Canada has faced simultaneous work stoppages at the two companies, which in the past have negotiated labor deals in alternate years.
CN and CPKC have tracks that stretch nationwide from the Atlantic to the Pacific coasts and south into the United States.
They carry an estimated Can$1 billion (US$730 million) worth of goods daily, including grains and potash, cars and petroleum products, and timber.
Business groups and farmers have warned of costly disruptions to the G7 economy.
US rail companies and overseas shippers had already stopped accepting some goods destined for Canada in anticipation of a disruption.
The chambers of commerce of the United States and Canada issued a joint statement Tuesday calling on the government of Canadian Prime Minister Justin Trudeau to take action.
“A stoppage of rail service will be devastating to Canadian businesses and families and impose significant impacts on the US economy,” they said.
"Significant two-way trade and deeply integrated supply chains between Canada and the United States mean that any significant rail disruption will jeopardize the livelihoods of workers across multiple industries on both sides of the border."
- 'Good faith' -
CN had sought to force the temporary relocation of workers to fill staff shortages in parts of Canada, which the union rejected.
"The union did not respond to another offer by CN in a final attempt to avoid a labor disruption," it said in a statement.
For its part, CPKC said it had "bargained in good faith, but despite our best efforts, it is clear that a negotiated outcome with the TCRC is not within reach."
The Teamsters leadership "continues to make unrealistic demands," it added.
The Teamsters said the two rail operators "have shown themselves willing to compromise rail safety and tear families apart to earn an extra buck," said union president Paul Boucher.
The union said it remained at the "bargaining table" with the two firms despite the lockout.
The Anderson Economic Group, which specializes in estimating losses, estimated that a three-day lockout could cost US$303 million and predicted a US$1 billion loss for a week-long disruption.
The analysts said that the United States would largely be spared significant impact as long as the dispute ended within a week.
“Our experience with port shutdowns in the United States indicates that shippers will aggressively seek alternate routes, and industry will move to substitute other suppliers, especially during the first week of a strike or shutdown." Anderson said.
F.Moura--PC